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Gold/Mining/Energy : Maxam Gold Corp. OBB:MXAM -- Ignore unavailable to you. Want to Upgrade?

To: Donald Watson, Jr. who wrote (3137)	11/25/1997 8:10:00 PM
From: Alan Vennix	Read Replies (1) \| Respond to of 11603

I liked the PR and the high gold values - only problem is small tonnage identified to date. A look at the numbers: 1.453 MM tons @ 0.346 oz/t = ~500,000 oz Au Using a valuation of $50/oz and 45MM shares out (without exercise of warrants), ($50/oz) x (0.5 MM oz) / (45 MM shares) = 0.56 $/share. One could argue for a higher valuation for this concentration assayable gold, say $90/oz, which would increase per share value to $1. I hope they can identify more of these channels, and, of course, these evaluations don't consider other recoverable metals/minerals or other properties. Go Dale <g> Alan

To: Donald Watson, Jr. who wrote (3137)	11/25/1997 8:36:00 PM
From: Chuca Marsh	Respond to of 11603

<<...IPM had only 2 twenty pound samples Fire Assayed, the results were lower than expected but as Sam Shaw says "You must use Large Samples to get accurate numbers" IPM used small samples and were at the low end of the scale (although they did match Aurics numbers in relation to Sample Proximity)...>> Right..exactly. BTW this can apply to Maxam with the following anology and short tale. The Mongoose unit that Maxam brought in to, as per Dick at Maxam@pr yesterday, complimate the Kneelson Concentrator prior trucked in to P-7 where the Mill Machine(s) that got replaced by the Vibra Mills and Resin Leach combination. The Mongoose folks require a mininum of a 5 gallon amount to be tested. They usually say that is about 50 pounds. So in that case a twenty pound sample refered above would be about half a 5 gallon bucket.( so-2.5 gallons..20 pints ..a pint is about a pound the world around ..so with different sample consistency..that is correct). But what the Mongoose folks say from their Mongoose Autocon Metal Concentrator is that THE LARGER THE SAMPLE THE better the read. The opening that the units was shown to me at P-7 when we went up the trailer at the left of the P-7 Barrick Trailer this summer-fall was some 3 ft square and LONG..10-20ft and stood 7 ft high -big enought to but a ton of tailings in (or New Stuff) and water it with the wave machine(really inside) a this water tight untit sorts the gold in half inch square seperators at the bottom ..in a grid ..all fibre glass and or nylon and impressive as a mobile 45 ft long Trailor Lab. Work smart..not hard I think these old timers say! These folks are out of Calgary and moved to AZ about a few + years ago, they know their stuff. They specialize in recovery of Tailings Piles to use this Concentrator Unit to quickly ( ie- Mongoose ) get out the gold specs..all by a "matching electric field of low tuned amps" and it works. It won't get out the rare earth stuff..but hey! Only Dale Runyon will specialize in that!(maybe stop Rohm & Haas from working out of test tube production of some of them, BTW) Yes, I am an IPM Long...but this is part of the reason way. Chucauptag...you'reit